$SOL Gradually building momentum, preparing for a major breakthrough! According to technical analysis, $SOL has completed a classic cup and handle formation, which is usually a strong signal for continued upward movement. The 'cup' in the cup and handle pattern represents a rounded bottom, while the 'handle' is a short-term consolidation, often seen in strong markets.
Key support: Solana currently has a strong support level between $180 and $200, closely aligned with the 0.618 Fibonacci retracement line, providing ample support for price increases. Analysts are optimistic that this support can help Solana break through further.
Three price targets, aiming directly at $500!
Short-term target: $250 (key resistance level, short-term profit zone) Mid-term target: $300 (further bullish signal after breakout) Final target: $500, this target reflects the enormous potential of the cup and handle pattern! Highly consistent with the Fibonacci extension line, indicating that Solana will enter a new bullish market.
Limitless upward trend: The price trend line of Solana remains within an ascending channel, and the increase in trading volume further bolsters the confidence in the uptrend. As the trading volume rises, the breakout will be smoother.
Risk reminder: Currently, the main support range for SOL is between $180 and $200. If it falls below this support level, it could open the door for further retracement.
SOL price trend: The current trading price of Solana is $216.73, with a 24-hour increase of 1.82%. The market capitalization has climbed to $104.65 billion, showing strong market confidence. Despite a short-term pullback, Solana's long-term potential cannot be ignored.
Will Solana break through $250 in the short term and continue to lead the market? In the coming days, we will witness this critical moment!
